Vault-13

SOUTHWEST GAS HLDGS INC SWX

COM · Common Stock · CUSIP 844895102

Investor-owned utility based in Las Vegas, Nevada, United States

353 institutional holders +19 vs Q3 2025
67,952,45368.0m shares reported held*
94.1% of all shares outstanding*
$5.4bnreported value*
43 new 112 added 129 reduced 32 sold out net sold ≈ $132.3m (-1.7m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.9m this quarter). Holder counts are more reliable. Shares outstanding: 72.2m as of 2025-10-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $80.02.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 287Q4 22: 297Q1 23: 280Q2 23: 273Q3 23: 280Q4 23: 280Q1 24: 286Q2 24: 285Q3 24: 297Q4 24: 309Q1 25: 348Q2 25: 329Q3 25: 334Q4 25: 353353Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022287
Q4 2022297
Q1 2023280
Q2 2023273
Q3 2023280
Q4 2023280
Q1 2024286
Q2 2024285
Q3 2024297
Q4 2024309
Q1 2025348
Q2 2025329
Q3 2025334
Q4 2025353

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q1 24: 120 bought or addedQ1 24: 147 cut or sold outQ2 24: 137 bought or addedQ2 24: 135 cut or sold outQ2 24Q3 24: 140 bought or addedQ3 24: 136 cut or sold outQ4 24: 153 bought or addedQ4 24: 127 cut or sold outQ4 24Q1 25: 179 bought or addedQ1 25: 126 cut or sold outQ2 25: 180 bought or addedQ2 25: 157 cut or sold outQ2 25Q3 25: 180 bought or addedQ3 25: 126 cut or sold outQ4 25: 155 bought or addedQ4 25: 161 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024120147
Q2 2024137135
Q3 2024140136
Q4 2024153127
Q1 2025179126
Q2 2025180157
Q3 2025180126
Q4 2025155161

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1m$2m$3m$4mQ1 25 calls: $366.2kQ1 25 puts: $14.4kQ1 25P/C 0.04Q2 25 calls: $3.0mQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $3.2mQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$366.2k$14.4k0.04
Q2 2025$3.0m$00.00
Q3 2025$3.2m$00.00
Q4 2025$0$0—

Biggest buyers

FMR LLC Added +850,455+850.5k
FULLER & THALER ASSET MANAGEMENT, INC. Added +643,015+643.0k
BlackRock, Inc. Added +434,693+434.7k
Brookfield Corp /ON/ New +338,070+338.1k
ADAGE CAPITAL PARTNERS GP, L.L.C. Added +228,496+228.5k
AQR CAPITAL MANAGEMENT LLC Added +201,560+201.6k
BW Gestao de Investimentos Ltda. New +174,847+174.8k
CITADEL ADVISORS LLC Added +144,324+144.3k
NEUBERGER BERMAN GROUP LLC Added +127,133+127.1k
GOLDMAN SACHS GROUP INC Added +121,947+121.9k

Biggest sellers

JPMORGAN CHASE & CO Reduced -2,866,537-2.9m
MACQUARIE GROUP LTD Sold out -899,320-899.3k
Zimmer Partners, LP Reduced -587,993-588.0k
River Road Asset Management, LLC Reduced -176,935-176.9k
T. Rowe Price Investment Management, Inc. Reduced -144,759-144.8k
ONTARIO TEACHERS PENSION PLAN BOARD Reduced -87,915-87.9k
JANE STREET GROUP, LLC Reduced -87,486-87.5k
RENAISSANCE TECHNOLOGIES LLC Reduced -85,900-85.9k
Phocas Financial Corp. Sold out -83,959-84.0k
Nuveen, LLC Reduced -59,309-59.3k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution filed 2026-10-27 15.1% 10.9m≈ $969.2m 2026-10-27
FMR LLC 13G · institution +1.1 pts · filed 2026-02-05 7.8% +1.1 pts 5.6m≈ $501.0m 2026-02-05
VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 5.4% new 3.9m≈ $344.3m 2026-04-29

Fell to 5% or below in the last year: Corvex Management LP (5.0%, 2026-05-08), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), ICAHN CARL C (5.0%, 2026-01-29)

Insider purchases and sales in Q4 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 1 sellingQ2 24Q3 24: 0 buyingQ3 24: 1 sellingQ4 24: 0 buyingQ4 24: 0 sellingQ4 24Q1 25: 0 buyingQ1 25: 1 sellingQ2 25: 0 buyingQ2 25: 1 sellingQ2 25Q3 25: 1 buyingQ3 25: 0 sellingQ4 25: 0 buyingQ4 25: 0 sellingQ4 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q1 20240—0——
Q2 20240—1$200.8k—
Q3 20240—1$798.6k—
Q4 20240—0——
Q1 20250—1$145.1k—
Q2 20250—1$525.0k—
Q3 20251$1.9k0——
Q4 20250—0——

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock, Inc. 0.01% of their portfolio New York, NY 10,282,41910.3m $822.8m $822.8m 0.01% Added +434.7k +434,693
2 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 7,011,4207.0m $561.1m $561.1m 0.01% Reduced -41.6k -41,567
3 ICAHN CARL C 5.72% of their portfolio SUNNY ISLES BEACH, FL 6,032,6046.0m $482.7m $482.7m 5.72% Unchanged
4 FMR LLC 0.02% of their portfolio BOSTON, MA 5,649,9155.6m $452.1m $452.1m 0.02% Added +850.5k +850,455
5 Corvex Management LP 13.39% of their portfolio NEW YORK, NY 5,030,5565.0m $402.5m $402.5m 13.39% Unchanged
6 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 2,340,2142.3m $187.3m $187.3m 0.01% Reduced -29.8k -29,798
7 MAVERICK CAPITAL LTD 1.76% of their portfolio DALLAS, TX 2,048,0532.0m $163.9m $163.9m 1.76% Added +94.5k +94,535
8 FULLER & THALER ASSET MANAGEMENT, INC. 0.23% of their portfolio SAN MATEO, CA 1,722,2161.7m $137.8m $137.8m 0.23% Added +643.0k +643,015
9 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.20% of their portfolio Boston, MA 1,648,4961.6m $131.9m $131.9m 0.20% Added +228.5k +228,496
10 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 1,602,1001.6m $128.2m $128.2m 0.01% Added +9.5k +9,515
11 T. Rowe Price Investment Management, Inc. 0.04% of their portfolio BALTIMORE, MD 1,343,4811.3m $107.5m $107.5m 0.04% Reduced -144.8k -144,759
12 PRINCIPAL FINANCIAL GROUP INC 0.04% of their portfolio DES MOINES, IA 1,083,6661.1m $86.7m $86.7m 0.04% Reduced -36.0k -35,968
13 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 1,060,7511.1m $84.9m $84.9m 0.02% Added +5.9k +5,882
14 GABELLI FUNDS LLC 0.55% of their portfolio Rye, NY 1,014,2871.0m $81.2m $81.2m 0.55% Added +4.1k +4,145
15 River Road Asset Management, LLC 0.81% of their portfolio LOUISVILLE, KY 927,263927.3k $74.2m $74.2m 0.81% Reduced -176.9k -176,935
16 Channing Capital Management, LLC 1.90% of their portfolio Chicago, IL 922,053922.1k $73.8m $73.8m 1.90% Reduced -8.6k -8,642
17 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 892,061892.1k $71.4m $71.4m 0.01% Reduced -31.6k -31,569
18 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.10% of their portfolio PHILADELPHIA, PA 869,765869.8k $69.6m $69.6m 0.10% First filing
19 NORGES BANK 0.01% of their portfolio OSLO, Q8 836,418836.4k $66.9m $66.9m 0.01% Not comparable
20 GAMCO INVESTORS, INC. ET AL 0.63% of their portfolio GREENWICH, CT 819,286819.3k $65.6m $65.6m 0.63% Reduced -4.4k -4,407
21 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 759,795759.8k $60.8m $60.8m 0.01% Reduced -12.8k -12,752
22 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 743,711743.7k $59.5m $59.5m 0.01% Reduced -48.5k -48,458
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 679,599679.6k $54.4m $54.4m 0.00% Reduced -2.9m -2,866,537
24 AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio Greenwich, CT 604,268604.3k $48.4m $48.4m 0.03% Added +201.6k +201,560
25 FIRST TRUST ADVISORS LP 0.03% of their portfolio Wheaton, IL 503,524503.5k $40.3m $40.3m 0.03% Reduced -42.6k -42,583
26 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 481,710481.7k $38.5m $38.5m 0.02% Reduced -20.0k -20,038
27 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 466,572466.6k $37.3m $37.3m 0.01% Added +121.9k +121,947
28 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 458,601458.6k $36.7m $36.7m 0.00% Reduced -50.3k -50,307
29 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 379,985380.0k $30.4m $30.4m 0.00% Reduced -28.9k -28,926
30 NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio NEW YORK, NY 370,497370.5k $29.6m $29.6m 0.02% Added +127.1k +127,133
31 Brookfield Corp /ON/ 0.03% of their portfolio TORONTO, A6 338,070338.1k $27.1m $27.1m 0.03% New
32 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 334,810334.8k $26.8m $26.8m 0.01% Reduced -59.3k -59,309
33 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 255,464255.5k $20.4m $20.4m 0.00% Reduced -42.9k -42,893
34 WEDGE CAPITAL MANAGEMENT L L P/NC 0.34% of their portfolio CHARLOTTE, NC 238,457238.5k $19.1m $19.1m 0.34% Reduced -21.3k -21,261
35 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 236,466236.5k $18.9m $18.9m 0.01% Added +144.3k +144,324
36 NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio ALBANY, NY 211,231211.2k $16.9m $16.9m 0.02% Reduced -13.4k -13,419
37 RHUMBLINE ADVISERS 0.01% of their portfolio BOSTON, MA 208,351208.4k $16.7m $16.7m 0.01% Reduced -17.3k -17,312
38 Sourcerock Group LLC 0.91% of their portfolio DENVER, CO 199,334199.3k $16.0m $16.0m 0.91% Reduced -439 -439
39 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 192,450192.4k $15.4m $15.4m 0.00% Reduced -14.3k -14,345
40 California Public Employees Retirement System 0.01% of their portfolio Sacramento, CA 190,258190.3k $15.2m $15.2m 0.01% Reduced -30.9k -30,871
41 UBS Group AG 0.00% of their portfolio ZURICH, V8 189,338189.3k $15.2m $15.2m 0.00% Reduced -41.1k -41,056
42 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 189,122189.1k $15.1m $15.1m 0.00% Added +104.3k +104,262
43 Zimmer Partners, LP 0.39% of their portfolio NEW YORK, NY 184,822184.8k $14.8m $14.8m 0.39% Reduced -588.0k -587,993
44 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 178,591178.6k $14.3m $14.3m 0.00% Reduced -743 -743
45 BW Gestao de Investimentos Ltda. 0.49% of their portfolio SAO PAULO, D5 174,847174.8k $14.0m $14.0m 0.49% New
46 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 162,224162.2k $13.0m $13.0m 0.00% Added +6.1k +6,089
47 EXCHANGE TRADED CONCEPTS, LLC 0.10% of their portfolio Oklahoma City, OK 151,745151.7k $12.1m $12.1m 0.10% Reduced -854 -854
48 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 139,846139.8k $11.2m $11.2m 0.00% Reduced -9.3k -9,331
49 Hudson Bay Capital Management LP 0.06% of their portfolio STAMFORD, CT 139,299139.3k $11.1m $11.1m 0.06% Added +66.9k +66,943
50 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 129,225129.2k $10.3m $10.3m 0.01% Reduced -18.6k -18,555
51 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 124,567124.6k $10.0m $10.0m 0.00% Reduced -33.0k -32,976
52 Walleye Capital LLC 0.06% of their portfolio NEW YORK, NY 122,410122.4k $9.8m $9.8m 0.06% Reduced -7.2k -7,209
53 Swiss National Bank 0.01% of their portfolio ZURICH, V8 120,600120.6k $9.7m $9.7m 0.01% Added +9.1k +9,100
54 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 120,400120.4k $9.6m $9.6m 0.01% Reduced -85.9k -85,900
55 Verbena Value LP 1.66% of their portfolio WESTPORT, CT 120,371120.4k $9.6m $9.6m 1.66% First filing
56 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 117,632117.6k $9.4m $9.4m 0.00% Reduced -46.5k -46,465
57 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 117,306117.3k $9.4m $9.4m 0.00% Added +25.0k +24,957
58 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 113,025113.0k $9.0m $9.0m 0.01% Added +80.6k +80,594
59 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 102,741102.7k $8.2m $8.2m 0.00% Added +60.2k +60,217
60 Legal & General Group Plc 0.00% of their portfolio London, X0 101,536101.5k $8.1m $8.1m 0.00% Reduced -32.1k -32,122
61 Trexquant Investment LP 0.07% of their portfolio STAMFORD, CT 100,373100.4k $8.0m $8.0m 0.07% Added +55.0k +55,015
62 Man Group plc 0.01% of their portfolio LONDON, X0 94,90194.9k $7.6m $7.6m 0.01% Added +62.2k +62,182
63 Ensign Peak Advisors, Inc 0.01% of their portfolio SALT LAKE CITY, UT 94,13294.1k $7.5m $7.5m 0.01% Added +84.4k +84,400
64 HENNESSY ADVISORS INC 0.26% of their portfolio NOVATO, CA 92,21792.2k $7.4m $7.4m 0.26% Reduced -2.3k -2,300
65 JACOBS LEVY EQUITY MANAGEMENT, INC 0.03% of their portfolio FLORHAM PARK, NJ 88,69488.7k $7.1m $7.1m 0.03% Reduced -4.7k -4,683
66 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 87,81487.8k $7.0m $7.0m 0.01% Reduced -5.1k -5,063
67 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 84,77884.8k $6.8m $6.8m 0.00% Added +2.2k +2,222
68 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 84,68084.7k $6.8m $6.8m 0.00% Reduced -28.9k -28,872
69 COMERICA BANK 0.03% of their portfolio DALLAS, TX 84,65084.7k $6.8m $6.8m 0.03% Added +13.6k +13,623
70 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio Paris, I0 81,65281.7k $6.5m $6.5m 0.01% Added +80.8k +80,750
71 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 79,45979.5k $6.4m $6.4m 0.01% Reduced -8.4k -8,439
72 Sterling Capital Management LLC 0.10% of their portfolio CHARLOTTE, NC 78,37678.4k $6.3m $6.3m 0.10% Reduced -8.5k -8,499
73 Retirement Systems of Alabama 0.02% of their portfolio MONTGOMERY, AL 77,10177.1k $6.2m $6.2m 0.02% Reduced -353 -353
74 Moody Aldrich Partners LLC 1.12% of their portfolio MARBLEHEAD, MA 74,86774.9k $6.0m $6.0m 1.12% Reduced -3.5k -3,528
75 BOOTHBAY FUND MANAGEMENT, LLC 0.14% of their portfolio NEW YORK, NY 68,80168.8k $5.5m $5.5m 0.14% Reduced -3.8k -3,835
76 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 68,58968.6k $5.5m $5.5m 0.00% Added +54.9k +54,905
77 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 66,95367.0k $5.4m $5.4m 0.00% Reduced -1.9k -1,895
78 MetLife Investment Management, LLC 0.03% of their portfolio Whippany, NJ 66,21866.2k $5.3m $5.3m 0.03% Reduced -3.5k -3,514
79 PEREGRINE CAPITAL MANAGEMENT LLC 0.16% of their portfolio MINNEAPOLIS, MN 65,31865.3k $5.2m $5.2m 0.16% Added +2.7k +2,733
80 13D Management LLC 6.07% of their portfolio New York, NY 63,79863.8k $5.1m $5.1m 6.07% Unchanged
81 ALGERT GLOBAL LLC 0.08% of their portfolio SAN FRANCISCO, CA 61,58161.6k $4.9m $4.9m 0.08% Reduced -39.5k -39,500
82 Hartree Partners, LP 1.79% of their portfolio NEW YORK, NY 61,20061.2k $4.9m $4.9m 1.79% New
83 Maryland State Retirement & Pension System 0.10% of their portfolio BALTIMORE, MD 60,33560.3k $4.8m $4.8m 0.10% Added +952 +952
84 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 60,05160.1k $4.8m $4.8m 0.00% Added +2.2k +2,217
85 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 58,52558.5k $4.7m $4.7m 0.00% Added +5.0k +5,033
86 JUPITER ASSET MANAGEMENT LTD 0.04% of their portfolio London, X0 55,06155.1k $4.4m $4.4m 0.04% Reduced -6.3k -6,278
87 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio Boston, MA 53,01353.0k $4.2m $4.2m 0.00% Reduced -1.5k -1,485
88 NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio ALBANY, NY 51,22751.2k $4.1m $4.1m 0.01% Reduced -100 -100
89 Aventail Capital Group, LP 0.23% of their portfolio NEW YORK, NY 49,45149.5k $4.0m $4.0m 0.23% Reduced -12.7k -12,661
90 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 47,55047.5k $3.8m $3.8m 0.00% Added +3.1k +3,060
91 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 47,08547.1k $3.8m $3.8m 0.00% Added +6.5k +6,549
92 BESSEMER GROUP INC 0.01% of their portfolio WOODBRIDGE, NJ 41,00341.0k $3.3m $3.3m 0.01% Added +38.7k +38,732
93 KLP KAPITALFORVALTNING AS 0.01% of their portfolio OSLO, Q8 39,60039.6k $3.2m $3.2m 0.01% Added +10.9k +10,900
94 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 39,02739.0k $3.1m $3.1m 0.00% Added +536 +536
95 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 36,89736.9k $3.0m $3.0m 0.00% Added +1.8k +1,801
96 MARTINGALE ASSET MANAGEMENT L P 0.07% of their portfolio BOSTON, MA 36,49336.5k $2.9m $2.9m 0.07% New
97 SummitTX Capital, L.P. 0.09% of their portfolio FORT WORTH, TX 35,18135.2k $2.8m $2.8m 0.09% New
98 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 34,42534.4k $2.8m $2.8m 0.00% Reduced -164 -164
99 NEXPOINT ASSET MANAGEMENT, L.P. 0.18% of their portfolio Dallas, TX 32,90032.9k $2.6m $2.6m 0.18% New
100 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 32,62732.6k $2.6m $2.6m 0.00% Reduced -6.3k -6,344